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Technology Stocks : Compaq -- Ignore unavailable to you. Want to Upgrade?

To: Elwood P. Dowd who wrote (95138)	2/7/2002 12:48:52 AM
From: Night Writer	Respond to of 97611

El, The 1744 read for the NAZ is the same area where I see horizontal support. Both DOW and NAZ are below any Smoothed Moving Average support. CPQ drifting down on low volume and moving up on high volume is good. If it starts moving down on high volume we have problems. COMPX downtrend using 1/9 (2098) and 2/1 (1942). No SMA support. Horizontal support located at 1775 (10/25/2001). This is not pretty unless you are short. DOW downtrend using 1/7 (10300) and 2/1 (9943). No SMA support. Horizontal support points located at 9545 (10/26/2001), 9410 (10/11/2001), and 9123 (10/3/2001). 9591 (11/6/2001) is the current support level to watch. CPQ TA analysis. Since the 11/14 run CPQ has made slightly higher closing highs at $11.65, $11.68, $11.80, $11.99, $12.05, $12.35 on decreasing higher volume days and backed off of the highs on lighter volume days. $10.80 is the support area. $12.28 is the resistance area. Using two daily highs (1/7 & 1/25) and lows (1/9 & 1/23), CPQ has a perfect rectangle with good volume indications. Heavy volume on the up side and light volume on the down side. CPQ closed above the rectangle on 1/31/02 at $12.35 with above average volume. The $12.35 close was not a decisive close. The formation may still be valid. Rectangles last one to three months. Let’s see what happens. NW